CIGLO
ActiveSummary
CIGLO has been active since 1977 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €15.8m and a net result of -€84,616. Equity remains stable across the filed fiscal years (±0.7% per year). Its solvency ranks better than 74% of 117 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2026
Axes · tick = 2025
Profitability58▲+24
Solvency100=
Growth24▲+2
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity ample (current ratio 3.05 against 3.5 in 2025; short-term debt: 2.3% and cash: 0.1% of total assets), and 18.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
81.9%
Return on assets
-0.4%
Age of the figures
7 mo
neutral · Latest accounts filed on time
The financial year that closed on 28-02-2026 was due by 30-09-2026 and was filed on 09-09-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
21 d early
2025
27 d early
2024
19 d early
2023
24 d early
2022
16 d early
2021
15 d early
2020
14 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 19 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 28-02-2027 and is due by 30-09-2027. Nothing is late today. Usually files around 9 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today28-02-2027 close30-09-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2026, abbreviated schema
In the rankings
#4 company by equity in Anderlecht, Real estate sector#7 company by total assets in Anderlecht, Real estate sector
Turnover
€1.2m▲ 7.3%
2025 · €1.1m
EBIT margin
1.6%▲ 17.7pp
2025 · -16.2%
Net result
-€84,616▲ 70.7%
2025 · -€288,317
Working capital
€925,454▼ 3.6%
2025 · €960,447
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Turnover€1.2m▲ 2.6%€1.2m=€1.6m▲ 38.2%€1.1m▼ 31.5%€1.2m▲ 7.3%
Operating result€153,357▼ 5.7%€112,900▼ 26.4%€111,023▼ 1.7%-€178,786€18,764
Net result€116,549within the sector's middle half▲ 16.2%€78,048within the sector's middle half▼ 33.0%€24,753within the sector's middle half▼ 68.3%-€288,317below the sector's middle half-€84,616▲ 70.7%
EBIT margin13.1%▼ 1.2pp9.7%▼ 3.5pp6.9%▼ 2.8pp-16.2%▼ 23.0pp1.6%▲ 17.7pp
Equity€16.2mabove the sector's middle half▼ 1.6%€16.2mabove the sector's middle half▼ 0.2%€16.1mabove the sector's middle half▼ 0.2%€15.9mabove the sector's middle half▼ 1.8%€15.8m▼ 0.5%
Total assets€17.8mabove the sector's middle half▼ 0.6%€19.0mabove the sector's middle half▲ 7.1%€19.4mabove the sector's middle half▲ 2.0%€19.4mabove the sector's middle half▲ 0.2%€19.2m▼ 1.0%
Debt€1.2m▲ 43.9%€2.6m▲ 115%€2.8m▲ 6.8%€3.4m▲ 21.0%€3.5m▲ 2.2%
Working capital€608,976within the sector's middle half▼ 29.7%€733,444within the sector's middle half▲ 20.4%€1.0mabove the sector's middle half▲ 40.5%€960,447within the sector's middle half▼ 6.8%€925,454▼ 3.6%
Solvency91.3%above the sector's middle half▼ 0.9pp85.0%above the sector's middle half▼ 6.2pp83.2%above the sector's middle half▼ 1.8pp81.6%above the sector's middle half▼ 1.6pp81.9%▲ 0.4pp
Current ratio1.88within the sector's middle half▼ 1.582.48within the sector's middle half▲ 0.605.08above the sector's middle half▲ 2.603.50within the sector's middle half▼ 1.583.05▼ 0.45
Return on assets (ROA)0.7%within the sector's middle half▲ 0.1pp0.4%within the sector's middle half▼ 0.2pp0.1%within the sector's middle half▼ 0.3pp-1.5%below the sector's middle half▼ 1.6pp-0.4%▲ 1.0pp
Staff (FTE)0.5below the sector's middle half=0.5within the sector's middle half=0.5within the sector's middle half=0.5within the sector's middle half=
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2026 Net result +71% on 2025. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2026: €18,764 after a loss of €178,786 in 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €19.2m
Fixed assets
€17.9m ▼ 1.2%
Current assets
€1.4m ▲ 2.4%
Equity and liabilities €19.2m
Equity
€15.8m ▼ 0.5%
Provisions
€8,498 ▼ 95.4%
Debt
€3.5m ▲ 2.2%
Debt's share of the balance-sheet total rises from 17.5% to 18.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€303,489▲
2025 · €103,797
Cash flow
€200,110▲
2025 · -€5,734
Debt to equity
0.22▲
2025 · 0.21
ROE
-0.5%▲
2025 · -1.8%
Interest coverage
2.18▲
2025 · 0.72
Debt ≤ 1 year
€452,179▲
2025 · €384,505
Debt > 1 year
€3.0m▲
2025 · €3.0m
Income taxes
€41
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 825 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 96% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
2.8%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 825 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.2m | €1.2m | €1.6m | €1.1m | €1.2m | ▲ 7.3% |
| Non-recurring operating income76A | - | - | €337,193 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €754,487 | €777,706 | €777,709 | €801,452 | €783,223 | ▼ 2.3% |
| Remuneration, social security and pensions62 | €26,869 | €28,995 | €31,348 | €7,710 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €185,296 | €206,238 | €269,339 | €282,583 | €284,725 | ▲ 0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €14,181 | -€14,181 | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€91,777 | -€91,070 | €252,214 | -€247,275 | -€156,645 | ▲ 36.7% |
| Other operating charges640/8 | €140,793 | €119,868 | €188,123 | €441,026 | €257,821 | ▼ 41.5% |
| Gross operating margin9900 | €414,538 | €391,112 | €837,865 | €305,258 | €404,666 | ▲ 32.6% |
| Operating profit (loss)9901 | €153,357 | €112,900 | €111,023 | -€178,786 | €18,764 | ▲ 110% |
| Financial income75/76B | €14,872 | €15,418 | €15,584 | €16,166 | €16,434 | ▲ 1.7% |
| Recurring financial income75 | €14,872 | €15,418 | €15,584 | €16,166 | €16,434 | ▲ 1.7% |
| Financial charges65/66B | €14,325 | €27,020 | €98,518 | €145,057 | €139,112 | ▼ 4.1% |
| Recurring financial charges65 | €14,325 | €27,020 | €98,518 | €145,057 | €139,112 | ▼ 4.1% |
| Profit (loss) for the period before taxes9903 | €153,904 | €101,298 | €28,089 | -€307,677 | -€103,913 | ▲ 66.2% |
| Transfer from deferred taxes780 | €128,740 | €19,360 | €19,360 | €19,360 | €19,339 | ▼ 0.1% |
| Income taxes67/77 | €166,095 | €42,610 | €22,696 | - | €41 | - |
| Profit (loss) for the period9904 | €116,549 | €78,048 | €24,753 | -€288,317 | -€84,616 | ▲ 70.7% |
| Transfer from tax-exempt reserves789 | €259,656 | €37,582 | €37,582 | €37,582 | €37,605 | ▲ 0.1% |
| Profit (loss) for the period to be appropriated9905 | €376,205 | €115,630 | €62,335 | -€250,735 | -€47,011 | ▲ 81.3% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17.8m | €19.0m | €19.4m | €19.4m | €19.2m | ▼ 1.0% |
| Fixed assets21/28 | €16.5m | €17.8m | €18.1m | €18.1m | €17.9m | ▼ 1.2% |
| Tangible fixed assets22/27 | €16.5m | €17.8m | €18.1m | €18.1m | €17.9m | ▼ 1.2% |
| Land and buildings22 | €15.7m | €17.1m | €17.4m | €17.5m | €17.4m | ▼ 0.5% |
| Plant, machinery and equipment23 | €754,952 | €659,257 | €688,147 | €568,943 | €433,669 | ▼ 23.8% |
| Other tangible fixed assets26 | - | €1,105 | €561 | €17 | €0 | ▼ 99.8% |
| Financial fixed assets28 | €2,530 | €2,530 | €2,529 | €2,529 | €2,529 | = |
| Current assets29/58 | €1.3m | €1.2m | €1.3m | €1.3m | €1.4m | ▲ 2.4% |
| Amounts receivable within one year40/41 | €1.2m | €1.2m | €1.2m | €1.3m | €1.3m | ▲ 2.7% |
| Trade receivables40 | €86,822 | €84,289 | €75,108 | €184,429 | €163,460 | ▼ 11.4% |
| Other amounts receivable41 | €1.1m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 5.0% |
| Cash at bank and in hand54/58 | €34,080 | €6,446 | €31,743 | €13,502 | €14,382 | ▲ 6.5% |
| Deferred charges and accrued income490/1 | €38,523 | €42,536 | €46,578 | €49,033 | €46,764 | ▼ 4.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17.8m | €19.0m | €19.4m | €19.4m | €19.2m | ▼ 1.0% |
| Equity10/15 | €16.2m | €16.2m | €16.1m | €15.9m | €15.8m | ▼ 0.5% |
| Contributions10/11 | €687,361 | €687,361 | €687,361 | €836,097 | €836,097 | = |
| Revaluation surpluses12 | €14.9m | €14.9m | €14.9m | €14.9m | €14.9m | = |
| Reserves13 | €337,230 | €299,648 | €262,067 | €75,749 | €38,144 | ▼ 49.6% |
| Non-distributable reserves130/1 | €159,966 | €159,966 | €159,967 | €11,230 | €11,230 | = |
| Reserves not available under the articles1311 | €148,736 | €148,736 | €148,736 | - | - | - |
| Other1319 | €11,230 | €11,230 | €11,230 | €11,230 | €11,230 | = |
| Tax-exempt reserves132 | €177,264 | €139,682 | €102,100 | €64,518 | €26,914 | ▼ 58.3% |
| Profit (loss) carried forward14 | €315,808 | €316,438 | €316,772 | €66,037 | €19,027 | ▼ 71.2% |
| Provisions and deferred taxes16 | €328,696 | €218,265 | €451,118 | €184,483 | €8,498 | ▼ 95.4% |
| Provisions for liabilities and charges160/5 | €242,777 | €151,707 | €403,920 | €156,645 | - | - |
| Major repairs and maintenance162 | €242,777 | €151,707 | €61,706 | - | - | - |
| Environmental obligations163 | - | - | €256,645 | €156,645 | - | - |
| Other liabilities and charges164/5 | - | - | €85,569 | - | - | - |
| Deferred taxes168 | €85,919 | €66,558 | €47,198 | €27,838 | €8,498 | ▼ 69.5% |
| Amounts payable17/49 | €1.2m | €2.6m | €2.8m | €3.4m | €3.5m | ▲ 2.2% |
| Amounts payable after more than one year17 | €457,705 | €2.1m | €2.5m | €3.0m | €3.0m | ▲ 0.2% |
| Financial debts170/4 | €416,682 | €2.0m | €2.5m | €2.9m | €3.0m | ▲ 2.3% |
| Other amounts payable178/9 | €41,023 | €42,974 | €52,224 | €61,574 | - | - |
| Amounts payable within one year42/48 | €693,592 | €495,918 | €252,336 | €384,505 | €452,179 | ▲ 17.6% |
| Current portion of amounts payable after more than one year42 | €196,649 | €173,660 | €90,314 | €98,899 | €92,350 | ▼ 6.6% |
| Financial debts43 | - | - | - | - | €57,500 | - |
| Credit institutions430/8 | - | - | - | - | €57,500 | - |
| Trade debts44 | €80,606 | €156,642 | €88,269 | €245,161 | €126,156 | ▼ 48.5% |
| Suppliers440/4 | €80,606 | €156,642 | €88,269 | €245,161 | €126,156 | ▼ 48.5% |
| Taxes, remuneration and social security45 | €41,190 | €50,299 | €11,762 | €542 | €5,745 | ▲ 961% |
| Taxes450/3 | €36,176 | €45,581 | €6,460 | €542 | €5,745 | ▲ 961% |
| Remuneration and social security454/9 | €5,014 | €4,718 | €5,302 | - | - | - |
| Other amounts payable47/48 | €375,147 | €115,317 | €61,991 | €39,903 | €170,429 | ▲ 327% |
| Accrued charges and deferred income492/3 | €73,578 | €76,064 | €37,068 | €43,923 | €44,789 | ▲ 2.0% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €116,549 | €78,048 | €24,753 | -€288,317 | -€84,616 | ▲ 70.7% |
| + Depreciation and write-downs630 | €185,296 | €206,238 | €269,339 | €282,583 | €284,725 | ▲ 0.8% |
| Operating cash flow (approximation) | €301,845 | €284,286 | €294,092 | -€5,734 | €200,110 | ▲ 3,590% |
| Investment in fixed assets (approximation) | - | -€1.5m | -€591,340 | -€254,852 | -€65,212 | ▲ 74.4% |
| Change in cash | - | -€27,634 | €25,297 | -€18,241 | €880 | ▲ 105% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2027, expected by
2026
09-09
NBB filing
Annual accounts filed
fiscal year 2026 · abbreviated schema
2025
03-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
28-02
Financial
Weakest financial yearnet -€288,317
Net result drops to -€288,317, the lowest in the series; recovery starts the following year.
2024
11-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
29-02
Financial
Liquidity doublescurrent ratio 5.08
Current ratio from 2.48 to 5.08; short-term debt falls from €495,918 to €252,336.
2023
06-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
14-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2021
15-09
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
16-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
29-02
Financial
Highest result since 2019net €220,677 ▲122%
Operating result €286,543, net result €220,677, both a record.
2019
11-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
12-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
04-10
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 4 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Anderlecht · 1 establishment unit since 1978
Ground area
1,415 m²
Building footprint
104 m²
Volume, LiDAR
1,505 m³
2 parcels, Brussels · tallest building 20.2 m, ±6 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
Baraplein 4, 1070 Anderlecht
since 19782.015.002.675
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21305B0204/00E032 | Brussels | 1,226 m² | - | - |
| 21305B0204/00Z011 | Brussels | 189 m² | 1 · 104 m² | 20.2 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 owner · 1 holdingChain of control
- CIGLO HOLDING
- CIGLO
Highest known parent: CIGLO HOLDING. The sources do not say who stands above it.
Owners 1
- CIGLO HOLDINGparent99.95%
Holdings 1
-
49%
According to the annual accounts to 28-02-2026 of CIGLO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
De Beide Vlaanderen
BE 0405.489.197
Kortemark · Eq €15,806,649
Luc Van De Wiel
BE 0427.995.573
Kapellen · Eq €15,823,595
TYBIM
BE 0436.856.524
Waregem · Eq €15,835,704
Derdaele Group
BE 0445.710.545
Lommel · Eq €15,660,182
Dumobil
BE 0405.559.572
Tielt · Eq €15,927,891
Of 9,698 companies in sector 68121 we hold annual accounts for 7,393. 881 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded14-07-1977
Fiscal year end28-02
Activities, NACEBEL 2025
68121Development of residential building projects
41001General construction of residential buildings
E-invoicing
Reachable via Peppol
Peppol ID
0208:0417423662
Registered
20-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
General meetings
3 convocationsOrdinary general meeting
Agenda
1. Discussion et approbation des comptes annuels arrêtés au 28 février 2010. 2. Affectation du résultat. 3. Rémunération d’un administrateur délégué. 4. Décharge des administrateurs. 5. Nomination d’un ou plusieurs administrateurs. 6. Divers.
Ordinary general meeting
Agenda
1. Discussion et adoption des comptes annuels arrêtés au 28 février 2009. 2. Affectation du résultat. 3. Rémunération et décharge des administrateurs. 4. Divers.
Ordinary general meeting
Agenda
1. Discussion et adoption des comptes annuels arrêtés au 29 février 2008. 2. Affectation du résultat. 3. Rémunération et décharge des administrateurs. 4. Divers.